Fund works for better ecology along Silk Road

(chinadaily.com.cn)

Updated: 2015-03-11

Green Silk Road Fund, a private equity fund aiming to improve the environment and promote ecological photovoltaic clean energy on the Silk Road Economic Belt, was launched in Beijing on March 8.

The fund was a joint initiative of several enterprises, namely Elion Resources Group, China Oceanwide Holdings Group, Chint Group, Huiyuan Group, Ping An Bank and JuneYao Group, together with the administrative committee of Sino-Singapore Tianjin Eco-City. Initially they have raised 30 billion yuan and plan to invest 5 billion for an ecological photovoltaic project that integrates electricity generation, tree planting, grass cultivation and animal husbandry in North China’s Hebei province as the fund’s first project.

Wang Wenbiao, chairman of Elion Resources Group, pointed out that ecological development is the trend now. Moreover, the "One Belt and One Road" initiative lists ecology and environment protection, prevention, and control of desertification and clean energy as its key industries, which creates a crucial opportunity for the development of the Green Silk Road.

The abundant solar thermal energy, rich traditional energy and severe desertification along the Silk Road Economic Belt facilitate the development of the ecological industry.

The proposal of the Green Silk Road Fund has received support from many international organizations, financial institutions and ecological enterprises, promising a bright prospect in terms of capital, resources and personnel.

In addition, the fund has established a direction committee on the cooperation with the International Scientists' Network of the United Nations Environment Program and prestigious domestic and foreign universities and research institutions in order to strengthen traceability review of the Silk Road Economic Belt and improve the fund’s healthy development.

Currently, more corporations and institutions at home and abroad are actively subscribing to the equity and will sign contracts with the fund.